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CME GRAINS: Corn: $7.5325 (+8.50); Soybeans: $15.82 (+5.00); Wheat: $7.5575 (+18.75) (Wed 1:20 pm)
STOCK FLASH: Dow 30: 34,230.34 (+97.31); Nasdaq: 13,582.42 (-51.08); S&P 500: 4,167.59 (+2.93) (Wed 3:00 pm)
MEATBOARD: Boxed Beef Choice: $304.78 (+3.56); Pork Carcass: $111.91 (+0.73); Chicken Breast: $203.02 (+8.74) (Wed pm)
The United States has imported 479K head of cattle so far in 2021, down 9.7% from 2020. The United States has imported 328K head of cattle from Mexico so far in 2021, down 5.1% from 2020. The United States has imported 151K head of cattle from Canada so far in 2021, down 18.2% from 2020.
Forty six percent (46%) of the corn in the U.S. had been planted by May 2nd, compared to 17% last week and 48% last year. Twenty four percent (24%) of the soybeans in the U.S. had been planted by May 2nd, compared to 8% last week and 21% last year. Fifty three percent (53%) of the barley in the U.S. had been planted by May 2nd, compared to 35% last week and 39% last year.
Thus far for Wednesday negotiated cash trading has been limited on light
demand in the Southern Plains, Nebraska, and the Western Cornbelt. Not
enough purchases for a full market trend. Negotiated cash trading has
been at a standstill in Colorado. Last week in the Southern Plains live
purchases traded from 118.00-119.00.
REAL TIME PRICES: The largest string sold on Wednesday was 268 steers (866#) from El Reno, Oklahoma at $119.50. The largest CALF string sold on Wednesday was 38 steers (472#) from Dodge City, Kansas at $179.00
Net sales of 23,600 MT reported for 2021 were down 4 percent from the previous week, but up 22 percent from the prior 4-week average. Increases were primarily for South Korea (11,700 MT, including decreases of 600 MT), Japan (4,900 MT, including decreases of 600 MT), Mexico (2,000 MT), China (1,900 MT, including decreases of 200 MT), and Hong Kong (600 MT, including decreases of 100 MT).
Parts of the Rockies and Northwest received rain and snow in the last week, but overall, most of the West and Plains remain dry. Extreme Drought (D3) continues to increase its reach in the Northern Plains, and dryness also expanded in the Midwest, Southeast, Hawaii, and Puerto Rico. As of April 27, 2021, 40.4% of the U.S is in drought, affecting 102.4 million people.
CATTLE SLAUGHTHER: USDA estimates daily cattle slaughter at 120K head, compared to 120K last week and 87K last year. WTD slaughter at 355K head, compared to 358 last week and 250K last year (Wed)
THE BEEF READ: It’s Green... June live cattle have dropped $13.05 in 18 trading days appears to have found its footing at $5 discount to cash. With boxed beef values surging over $305 this morning and packer margins north of $700 per head, the optics support steady cash at the least (The Beef)
DAILY DROP: The hide and offal value was estimated at $12.00, unchanged from Tuesday
Corn Progress By State
Estimated Weekly Meat Production
Export Sales Highlights
Farms and Land in Farms Highlights
Livestock, Dairy & Poultry Outlook
Milk Production By State
National Drought Monitor
National Feeder Cattle Report
National Grain Report
Natural Gas Weekly Update
Number Of Farms By State
Quarterly Hogs & Pigs
Top 25: Largest Steer & Heifer Strings Sold Today
United States Ag Production Report
USDA Grain Stocks Report
USDA Prospective Plantings Report
WASDE: Feed Grain Outlook
WASDE: Livestock, Dairy & Poultry Outlook
WASDE: Oilseed Outlook
WASDE: Wheat Outlook
Rob Cook, RobCookKC@gmail.com